Keen recently announced that brands using its unified marketing measurement and optimization platform experienced a 40.4 percent increase in profitability for 2018. (Read the release.)
The following post was curated from AdWeek's Oct. 10 webinar: Breakthrough Measurement, with permission from Keen's featured client, Bill Mackison, consumer insights lead for Perfetti van Melle (PvM), makers of Airheads and Mentos.
"You Only Improve What You Measure."
I believe you do indeed improve what you measure – whether it is people growth, sales growth or marketing effectiveness. And in today's fragmented and fluid consumer market there's strong incentive to measure better.
We have experienced a huge change in our measurement insights using Keen's platform, in contrast to our past marketing mix analyses to the extent that I believe that leveraging these types of real-time measurement technologies can actually constitute a first-mover advantage.
Like Narcissus in the reflecting pool it's virtually impossible for us marketers to turn our gaze away from our dashboards, clicking, whirring and blinking with impressions, clicks, shares, likes, reach, engagement, open rates and more.
We've gone from no metrics to a Pandora's box of vanity metrics— full of sound and fury — but here's the ugly truth: signifying nothing.
None of these metrics can be directly, positively or predictively correlated to top- or bottom-line improvement.